Title 22, Insurance

0 chapters · 2,651 sections in this title.

2,651 sectionsFiltered byTitle 22

La. Rev. Stat. § 22:2037 Payments to Insurance Guaranty Association
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§2037. Payments to Insurance Guaranty Association The commissioner of insurance shall make periodic partial payments to the Insurance Guaranty Association. Added by Acts 1970, No. 83, §1; Redesignated from R.S. 22:756.2 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2038 Uniform Insurers Liquidation Law
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§2038. Uniform Insurers Liquidation Law This Section, and R.S. 22:2039 through 2044, comprise and may be cited as the "Uniform Insurers Liquidation Law". For the purposes of the law: (1) "Insurer" means any person, firm, corporation, association, or aggregation of persons doing a…
La. Rev. Stat. § 22:2039 Conduct of delinquency proceedings against insurers not domiciled in this state
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§2039. Conduct of delinquency proceedings against insurers not domiciled in this state A. Whenever under the laws of this state an ancillary receiver is to be appointed in delinquency proceedings for an insurer not domiciled in this state, the court shall appoint the commissioner…
La. Rev. Stat. § 22:204 Service
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§204. Service Except as hereinafter authorized, funeral services and supplies only can be furnished by any association operating hereunder and payment therefor shall be made to the undertaker or funeral-directing firm furnishing the funeral and not the family of the deceased. The…
La. Rev. Stat. § 22:2040 Claims of nonresidents against domestic insurers
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§2040. Claims of nonresidents against domestic insurers A. In a delinquency proceeding begun in this state against an insurer domiciled in this state, claimants residing in reciprocal states may file claims either with the ancillary receivers, if any, in their respective states, …
La. Rev. Stat. § 22:2041 Claims against foreign insurers
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§2041. Claims against foreign insurers A. In a delinquency proceeding in a reciprocal state against an insurer domiciled in that state, claimants, against such insurer, who reside within this state may file claims either with the ancillary receiver, if any, appointed in this stat…
La. Rev. Stat. § 22:2042 Priority of certain claims
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§2042. Priority of certain claims A. In a delinquency proceeding against an insurer domiciled in this state, claims owing to residents of ancillary states shall be preferred claims if like claims are preferred under the laws of that state. All such claims owing to residents or no…
La. Rev. Stat. § 22:2043 Attachment and garnishment of assets
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§2043. Attachment and garnishment of assets During the pendency of delinquency proceedings in this or any reciprocal state no action or proceeding in the nature of an attachment, garnishment, or execution shall be commenced or maintained in the courts of this state against the de…
La. Rev. Stat. § 22:2043.1 Actions by and against the receiver
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§2043.1. Actions by and against the receiver A. No prior wrongful or negligent actions of any present or former officer, manager, director, trustee, owner, employee, or agent of the insurer may be asserted as a defense to a claim by the receiver under a theory of estoppel, compar…
La. Rev. Stat. § 22:2044 Uniformity of interpretation
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§2044. Uniformity of interpretation This Uniform Insurers Liquidation Law, R.S. 22:2038 through 2044, shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states that enact it. Acts 1958, No. 125; Redesignated from R.S. 22:76…
La. Rev. Stat. § 22:2045 Confidentiality
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§2045. Confidentiality A. All working papers, recorded information, documents, and copies thereof produced by, obtained by, or disclosed to the commissioner, or any other person, in the course of an action pursuant to this Chapter, which are confidential or privileged pursuant to…
La. Rev. Stat. § 22:2046 Redesignated as R.S
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§2046. Redesignated as R.S. 22:406 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2047 Redesignated as R.S
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§2047. Redesignated as R.S. 22:407 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2048 Redesignated as R.S
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§2048. Redesignated as R.S. 22:408 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2049 Redesignated as R.S
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§2049. Redesignated as R.S. 22:409 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:205 Uniform classes of policyholders and stipulated benefits; assessments
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§205. Uniform classes of policyholders and stipulated benefits; assessments A. The classification or grouping of policyholders into classes according to age and the value of the benefit provided in the policies shall be uniform and, except as hereinafter specified, all associatio…
La. Rev. Stat. § 22:2050 Redesignated as R.S
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§2050. Redesignated as R.S. 22:410 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2051 Title
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§2051. Title This Part shall be known and may be cited as the Louisiana Insurance Guaranty Association Law. Added by Acts 1970, No. 81, §1; Redesignated from R.S. 22:1375 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2010, No. 959, §§1, 2, eff. July 6, 2010. NOTE: Former R.S…
La. Rev. Stat. § 22:2052 Purpose
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§2052. Purpose The purpose of this Part is to provide for the payment of covered claims under certain insurance policies with a minimum delay and a minimum financial loss to claimants or policyholders due to the insolvency of an insurer, to provide financial assistance to member …
La. Rev. Stat. § 22:2053 Scope; policy coverage determination
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§2053. Scope; policy coverage determination A. This Part shall apply to all kinds of direct insurance, except: (1) Life, annuity, health and accident or disability insurance. (2) Mortgage guaranty, financial guaranty, or other forms of insurance offering protection against invest…
La. Rev. Stat. § 22:2054 Construction
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§2054. Construction This Part shall be construed to effect its purpose under R.S. 22:2052, which shall constitute an aid and guide to interpretation. Added by Acts 1970, No. 81, §1; Redesignated from R.S. 22:1378 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2010, No. 959, §…
La. Rev. Stat. § 22:2055 Definitions
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§2055. Definitions As used in this Part: (1) "Affiliate" means a person who directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with another person. (2) "Association" means the Louisiana Insurance Guaranty Association…
La. Rev. Stat. § 22:2056 Creation of the association
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§2056. Creation of the association A. There is created a private nonprofit unincorporated legal entity to be known as the "Louisiana Insurance Guaranty Association". All member insurers defined in R.S. 22:2055 shall be and remain members of the association as a condition of their…
La. Rev. Stat. § 22:2057 Board of directors
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§2057. Board of directors A. The board of directors of the association shall consist of nine persons serving terms as established in the plan of operation. The board shall be composed of two consumer representatives appointed by the commissioner, one person appointed by the presi…
La. Rev. Stat. § 22:2058 Powers and duties of the association
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§2058. Powers and duties of the association A. The association shall do all of the following: (1)(a) Be obliged to pay covered claims pursuant to an order as provided in R.S. 22:2008(C), existing prior to the determination of the insurer's insolvency, or arising after such determ…
La. Rev. Stat. § 22:2059 Plan of operation
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§2059. Plan of operation A.(1) The association shall submit to the commissioner, the Senate Committee on Insurance, and the House Committee on Insurance a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administrati…
La. Rev. Stat. § 22:206 Expenses
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§206. Expenses The expenses of necessary printing, stationery, postage, office supplies and expenses, clerical hire, statutory fees, and examination fees may be paid by the association. The total of all expenses shall not exceed twenty-five percent of each assessment and shall be…
La. Rev. Stat. § 22:2060 Duties and powers of the commissioner
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§2060. Duties and powers of the commissioner A. The commissioner shall: (1) Notify the association of the existence of an insolvent insurer no later than three days after he receives notice of the determination of the insolvency. The association shall be entitled to a copy of a p…
La. Rev. Stat. § 22:2060.1 Coordination among guaranty associations
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§2060.1. Coordination among guaranty associations A. The association may join one or more organizations of other state associations of similar purposes, to further the purposes and administer the powers and duties of the association. The association may designate one or more of t…
La. Rev. Stat. § 22:2061 Effect of paid claims
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§2061. Effect of paid claims A. Any person recovering under this Part shall be deemed to have assigned his rights under the policy to the association to the extent of his recovery from the association. Every insured or claimant seeking the protection of this Part shall cooperate …
La. Rev. Stat. § 22:2061.1 Net worth exclusion
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§2061.1. Net worth exclusion A. For purposes of this Part, "high net worth insured" means any policyholder or named insured, other than any state or local governmental agency or subdivision thereof, whose net worth exceeds twenty-five million dollars on December thirty-first of t…
La. Rev. Stat. § 22:2062 Exhaustion of other coverage
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§2062. Exhaustion of other coverage A.(1) Any person having a claim against an insurer shall be required first to exhaust all coverage provided by any other policy, including the right to a defense under the other policy, if the claim under the other policy arises from the same f…
La. Rev. Stat. § 22:2063 Prevention of insolvencies
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§2063. Prevention of insolvencies To aid in the detection and prevention of insurer insolvencies: (1) The board of directors may, upon majority vote, make recommendations to the commissioner on matters generally related to improving or enhancing regulation for solvency. (2) At th…
La. Rev. Stat. § 22:2064 Examination of the association
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§2064. Examination of the association The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit, not later than March thirtieth of each year, a financial report for the preceding calendar year in a form approved by the…
La. Rev. Stat. § 22:2065 Tax exemption
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§2065. Tax exemption The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions except taxes levied on real or personal property, and sales and use taxes levied by any taxing authority. Added by Acts 1970, No. 81, §1; Re…
La. Rev. Stat. § 22:2066 Recognition of assessments in rates
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§2066. Recognition of assessments in rates The rates and premiums charged for insurance policies to which this Part applies shall include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member …
La. Rev. Stat. § 22:2067 Immunity
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§2067. Immunity There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer, the association or its agents or employees, the board of directors, or the commissioner or his representatives for any action taken by them in t…
La. Rev. Stat. § 22:2068 Stay of proceedings; reopening of default judgments; execution of judgments; proration
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§2068. Stay of proceedings; reopening of default judgments; execution of judgments; proration A. All proceedings in which the insolvent insurer is a party or is obligated to defend a party in any court in this state shall be stayed for six months and such additional time as may b…
La. Rev. Stat. § 22:2069 Advertisements
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§2069. Advertisements A. Advertisements which include a reference to the coverage or protection by the Louisiana Insurance Guaranty Association are specifically prohibited. B. As used in this Section, "advertisements" means any communication by print, television, radio, Internet,…
La. Rev. Stat. § 22:207 Indebtedness
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§207. Indebtedness All associations are prohibited from creating any indebtedness except for expenses and benefits to policyholders and all debts for expenses and benefits to policyholders must be paid within sixty days after they arise. Acts 1958, No. 125; Redesignated from R.S.…
La. Rev. Stat. § 22:2070 Effective date
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§2070. Effective date The provisions of this Part shall become effective on September 1, 1970. Added by Acts 1970, No. 81, §1; Redesignated from R.S. 22:1394 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2071 Redesignated as R.S
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§2071. Redesignated as R.S. 22:481 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2072 Redesignated as R.S
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§2072. Redesignated as R.S. 22:482 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2073 Redesignated as R.S
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§2073. Redesignated as R.S. 22:483 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2074 Redesignated as R.S
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§2074. Redesignated as R.S. 22:484 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2074.1 Redesignated as R.S
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§2074.1. Redesignated as R.S. 22:485 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2075 Redesignated as R.S
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§2075. Redesignated as R.S. 22:486 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2076 Redesignated as R.S
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§2076. Redesignated as R.S. 22:487 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2077 Redesignated as R.S
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§2077. Redesignated as R.S. 22:488 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2078 Redesignated as R.S
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§2078. Redesignated as R.S. 22:489 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.